Kendrick Picks Four Altcoins to Dominate Tokenized Finance by 2030

Standard Chartered's head of digital assets research, Geoffrey Kendrick, says tokenization is now a done deal. As traditional finance moves online, he expects four altcoins to capture a large share of the money that follows: Uniswap ($UNI), Aave ($AAVE), Morpho (MORPHO), and Arbitrum ($ARB).

Kendrick predicts Uniswap will reach $100 by 2030. However, he notes that his previous target of $100 may be too low, considering the token has already surpassed $9. He attributes this growth to Uniswap's fee switch, which uses trading fees to buy back and burn tokens, and a strong moat that rivals struggle to replicate.

Aave, which Kendrick calls the leader in 'on-chain banking,' has been resilient despite a $300 million hack in April. The community's quick response and founder's tightened risk settings have reassured Kendrick, who now sees Aave as a long-term winner.

Morpho is a different beast from Aave, with a business model more akin to a platform for asset managers. Kendrick expects Morpho to dominate the on-chain asset management space in the medium term, driven by its relatively low volatility and liquidity.

Arbitrum is Kendrick's biggest call, with a predicted price of $10 by 2030. He bases this on Arbitrum's 10% share of Robinhood Chain's net revenue and the potential for multiple firms to follow suit, increasing Arbitrum's monthly revenue to $40 million to $50 million within two years.

Kendrick also notes that Arbitrum trades at a valuation multiple about 30 times lower than layer 1 networks such as Ethereum, Solana, and Avalanche.